Modec selects Keppel for $136M FPSO module work

Singapore’s Keppel Offshore & Marine Ltd has been awarded a Floating Production Storage and Offloading (FPSO) module fabrication and integration project by the Japanese FPSO owner Modec.

The work will be carried out in Brazil by Keppel’s subsidiary’s Keppel FELS Brasil SA’s BrasFELS shipyard. The value of the deal has been estimated at more than 500 million Brazilian reals ($136 million).

Under this contract, BrasFELS will build and integrate nine topside production modules for the FPSO Cidade de Campos dos Goytacazes MV29. The vessel is expected to arrive at the shipyard by the first quarter of 2017 for the integration phase.

When completed, the FPSO Cidade de Campos dos Goytacazes MV29 will have the capacity to process 150,000 barrels of oil per day (bopd) and 5 million cubic meters of gas per day. The unit’s storage capacity is 1.6 million barrels of oil.

Slated to depart the shipyard in the third quarter of 2017, the FPSO will be deployed at Tartaruga Verde and Tartaruga Mestiça Fields, in the Campos Basin, off the coast of Rio de Janeiro.

This is not the only projec BrasFELS is working on for Modec. Namely, the yard is also responsible on the integration and commissioning of the FPSO Cidade de Caraguatatuba MV27. The FPSO is expected to arrive at BrasFELS in the second quarter of 2016, and will be deployed in the Lapa Field, Santos Basin, Brazil. The FPSO Cidade de Itaguaí MV26, which was delivered by BrasFELS to Modec in mid-2015 achieved first oil production four months ahead of the schedule, in the Iracema Norte Area of Lula Field in Brazil.

In the past five years, BrasFELS delivered five FPSO projects, three of which were for Modec.

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